News
CORINTH, MI – Ayrshire Electronics has acquired ACT Electronics' facility here for an undisclosed amount.
In doing so, Ayrshire saved the largest EMS factory in the US – some 350,000 sq. ft. – and the jobs of about 200 full-time workers and 50 more part-timers.
In a statement, the office of Gov. Haley Barbour said, "Ayrshire Electronics ... is expected to keep 200-plus workers on the job under the umbrella of a new corporate structure and new management effective as early as (today)."
Last month ACT put the plant, formerly owned by ITT, up for sale.
Ayrshire operates five plants in the Midwest and Mexico.
WYLIE, TX – Global Innovation Corp., provider of bare boards and contract assembly services, reported fiscal 2008 sales of $33.5 million, up 1.6% over 2007. Gross profits rose 14% to $7.2 million, while net income was up 93% to $348,000.
The higher sales were primarily attributable to new customers and partially offset by a sales decline at GIC’s largest customer. The higher gross profit was tied to a shift to higher technology products, and lower pricing pressures. Gross margins rose 240 basis points to 21.5% in 2008.
MINNEAPOLIS – CyberOptics reported third-quarter sales of $11.6 million, down 29% from last year. The net loss was $772,000, down from net income of $1.5 million a year ago. The net loss included about $650,000 of pre-tax expenses related to transition of inspection systems-related R&D and manufacturing to Singapore and a $257,000 income tax benefit.
